PF applicability needs to be checked on which amount: Gross pay or Basic Salary.
For instance, the Basic Salary of Mr. A is Rs. 12,000, DA- Rs. 2000, Additional Allowance- Rs. 4000. So, the Gross Pay comes to Rs. 18,000. Is PF mandatory for Mr. A?
From India, Kottayam
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For instance, the Basic Salary of Mr. A is Rs. 12,000, DA- Rs. 2000, Additional Allowance- Rs. 4000. So, the Gross Pay comes to Rs. 18,000. Is PF mandatory for Mr. A?
From India, Kottayam
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Yes. PF need to be covered for the employees whoever has the basic+ DA less than 15k. In your case Mr. A got basic + DA is 14k. So he is covered under the act.
From India, Chennai
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151From India, Chennai
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My doubt is to check mandatory PF applicability, do we have to consider an employee's wages in total or Basic salary alone (as per EPF Act)? Contribution is okay, which is limited to ₹15,000 of Basic + DA. Can anyone share the exact section of EPF explaining on which amount EPF applicability should be checked:
1. Basic Salary Alone
2. Basic + DA + Retaining Allowance
3. Gross Pay
From India, Kottayam
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1. Basic Salary Alone
2. Basic + DA + Retaining Allowance
3. Gross Pay
From India, Kottayam
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Dear sir,
Greetings for the day.
For calculation of EPF accumulation, the basic+da+food conc. (if any) is required. No other allowance is required if the salary structure is like Basic+HRA+Cony.+Other Allowance. The component of basic will be considered, and the rest will not.
Thanks & Regards,
Sumit Kumar Saxena
From India, Ghaziabad
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Greetings for the day.
For calculation of EPF accumulation, the basic+da+food conc. (if any) is required. No other allowance is required if the salary structure is like Basic+HRA+Cony.+Other Allowance. The component of basic will be considered, and the rest will not.
Thanks & Regards,
Sumit Kumar Saxena
From India, Ghaziabad
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